young business man explaining group health insurance options to business group at a table in an office

New Strategies to Save Money on Group Health Costs in 2019

February 27, 2019
, , , , , , Employer Group

As group health insurance costs continue to increase, many employers are looking for new, creative ways to save money while still providing their employees with coverage.

Reference Based Pricing

Reference Based Pricing is a rapidly growing strategy that a number of employers are using to save money on group health insurance costs. This technique gives the employee the ability to choose any provider without the limitations and higher costs of a traditional provider network. By choosing to take advantage of this method, employers have the potential to save between 15 and 20 percent on group health insurance costs.

Association Health Plans

According to the U.S. Department of Labor (DOL), Association Health Plans are defined as “group health plans that employer groups and associations offer to provide health coverage for employees.”

In April of this year, the federal government will begin to allow small employer groups to form new associations based on industry and finally receive access to group health insurance plans typically only reserved for larger companies. While many association health plans already exist, the new legislation eliminates the geographic barriers previously in place.

According to the Congressional Budget Office, “four million Americans, including 400,000 who otherwise would lack insurance, will join an AHP by 2023.”

Direct Primary Care

Direct Primary Care (DPC) is an alternative payment model to third-party billing. With DPC, there is a flat monthly membership fee and nothing else. Employees have access to a physician of their choice and the physician remains accountable to only their patients. This option can also exist alongside a comprehensive major medical plan.

Level Funding

For groups of five or more, level-funded plans are becoming increasingly popular. These plans boast a nationwide network of hospitals and physicians and are offered by a number of reputable insurance carriers. Designed to offer more flexibility to employers, level-funded plans are ERISA complaint and partially self-insured with a savings potential of 10 to 15 percent. Many also offer return-of-premium potential.

Learn More

Want to learn more about these strategies? Tune in to our free webinar on March 7th at 1 pm EST. Jason Cleary, a licensed Benefits Counselor with over 18 years of experience, will be sharing information on how to utilize these tactics and save on group health costs in 2019.

Click to register today.

 

young female experiencing work-related stress

Could Workplace Stress Become A Workers’ Compensation Claim?

July 26, 2018
, , , , , , , Workers' Compensation

According to a CBS News article, it has been estimated that roughly 8.3 million Americans suffer from some form of psychological distress such as a general hopeless or nervous disposition or even clinically diagnosable depression and anxiety-related disorders such as PTSD. While the cause for the sudden uptick in depression, anxiety, addiction, and general stress has been linked to everything from overzealous doctors, supervisors, and hostile work environments, to politics and the economy, and the concern over the ever-increasing amount of “screen time” Americans spend per day, the truth is that no one is able to one-hundred-percent identify the source.

While psychology experts and the media keep digging into just what is causing the rise in stress-related disorders and situations, many of those suffering are plagued with the maybe more important question of what are we going to do about it?

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Group of young professions working at a white board calculating effects of group health insurance for their business

How To Find The Best Group Health Plan For Your Business

February 22, 2018
, , , , Employer Group

The Group Health Insurance industry continues to change with premiums continuing to rise. You have probably changed insurance carrier’s multiple times hoping to secure for the deal of the year.

So, the question is: Is that all there is? Change carriers and tweak my benefits?

What To Consider In Your Group Health Plan Decision

Not all Group Health Insurance plans are the same and one of the largest problems we come across in the industry is that so few companies are aware of all of their options. Most of the time, the reason behind this is because businesses are often dependent upon their insurance agent to present them with their group health options. In doing so, it is important for businesses to note and understand that like the differing group health plans on the market, not all agents are alike. Agents often differ greatly in regard to their level of experience and general knowledge pertaining to new and emerging trends in the industry.

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black and silver ear buds on laptop for group health insurance podcast

Year End Insurance Planning for Law Firms Podcast With Member Benefits CEO Chip Trefry

December 1, 2017
, , , , , , , Cyber Security, Disability Insurance, Employer Group

Member Benefits own CEO Chip Trefry had the pleasure of sitting down with the hosts Christine Bilbrey and Jonathon Israel of The Florida Bar Podcast recently about year-end insurance planning for law firms.

To list to the full audio, please click here.

To learn more about Group Health Insurance, Disability Insurance, Cyber Security, and more, please visit your association page to contact one of our licensed Benefits Counselors.

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Young People Discussing Group Insurance Benefits with an agent

3 Benefits of Group Health Insurance For Employers

August 24, 2017
, , , Employer Group, Health Insurance

Group health insurance is usually provided by an employer and can cover just the employee or even the employee’s spouse and children.

Not providing group health coverage could be a major misstep for some companies regardless of size, as there are a number of benefits to providing Group Health Insurance coverage.

1. Lower Costs Than Individual Plans

There is no question that the term health care reform has been a hot-button topic and on the lips of nearly every politician regardless of political party over the course of the past 10 years. In light of the Affordable Care Act, it has now become more affordable to purchase Group Health Insurance than for your employees to purchase health insurance individually.

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man rubbing sore shoulder at the office

The Workers’ Comp. Insurance Your Firm Needs

July 27, 2017
Workers' Compensation

In 2015, the Bureau of Labor Services estimated that there were 1,153,490 cases of work-related injuries and illnesses that resulted in missing days from work. This statistic can be scary for both businesses and individuals alike.

For many small businesses and law firms, it’s easy to take on a family-like environment in the workplace. And the last thing any employer wants to see is a valued employee that they’ve grown to know become injured or sick as the result of just doing their job. But it is a reality and Workers’ Comp insurance is there to help ease the burden.

The State of Florida mandates that all businesses with more than 3 employees provide an insurance policy to pay for medical treatment and salary benefi­ts of injured workers. Unlike other types of coverage where you get to choose the ultimate cost via limits, covered events and deductibles, Workers’ Compensation Insurance benefi­ts and rates are set by the State Legislature and the Division of Workers’ Compensation Department of Financial Services. Therefore, you will pay exactly the same base price for this coverage no matter what carrier you choose.

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